nLIGHT, Inc. (NASDAQ:LASR) CEO Sells $167,850.00 in Stock

nLIGHT, Inc. (NASDAQ:LASR) CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $11.19, for a total value of $167,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,146 shares in the company, valued at $14,996,233.74. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

nLIGHT Stock Down 7.1 %

Shares of NASDAQ:LASR opened at $10.11 on Thursday. The company has a market capitalization of $489.62 million, a P/E ratio of -9.82 and a beta of 2.20. nLIGHT, Inc. has a 52-week low of $9.80 and a 52-week high of $14.75. The stock’s fifty day simple moving average is $11.32 and its 200-day simple moving average is $11.37.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Needham & Company LLC increased their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald assumed coverage on shares of nLIGHT in a research report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LASR. Royce & Associates LP grew its holdings in shares of nLIGHT by 9.1% during the third quarter. Royce & Associates LP now owns 2,733,476 shares of the company’s stock worth $29,221,000 after buying an additional 227,580 shares in the last quarter. Needham Investment Management LLC boosted its position in nLIGHT by 7.1% during the third quarter. Needham Investment Management LLC now owns 2,337,740 shares of the company’s stock worth $24,990,000 after acquiring an additional 155,000 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in nLIGHT by 18.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock worth $22,087,000 after acquiring an additional 309,634 shares during the period. Harvey Partners LLC raised its holdings in nLIGHT by 56.5% in the 3rd quarter. Harvey Partners LLC now owns 1,735,000 shares of the company’s stock valued at $18,547,000 after acquiring an additional 626,500 shares during the last quarter. Finally, Divisar Capital Management LLC lifted its stake in shares of nLIGHT by 9.4% during the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company’s stock worth $16,897,000 after purchasing an additional 133,023 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

About nLIGHT

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.